What You Need to Know Before You Choose an Energy Provider

February 19th, 2016 admin

You’ve just had a knock on your door. A new energy provider is in town, trying to get your business. That’s what the world of energy is all about since deregulation. One utility company is no longer the monopoly. You don’t have to settle for who you’ve always had or the only provider that has been around for the last 50 years. You can pick the best company that is tailored to suit you. Before you doing anything hasty, take some time to consider your decision. You want to be happy with who you choose and reap the benefits of going with the best company for you.

Look Before You Leap

As you think about the offer from your energy salesman that is going door to door, remember that you have options. You can stay with your current supplier if you are satisfied. However, don’t settle for less than the best just because your parents had the same supplier and you’re sticking with them for sentimental reasons. Your wallet should come first. That visit from the new energy supplier should be a wakeup call to find out exactly what is out there. You may like what you find.

Try Comparative Shopping

If you are like so many others, you cut coupons. You look at sale flyers and go with the store that has the best deal. You dabble in online shopping because you can’t believe the savings that are offered here. The same holds true for your energy supplier. Understand that your utility company will continue to be your provider. However, you can take your pick when it comes to suppliers. Your new supplier won’t make a difference in the type of service you get from your provider. Where you are going to see a difference is in your rates.

Should You Go with a Fixed Rate or Variable Rate

Pay close attention to rates when you are shopping for an energy supplier. You’ll be offered a fixed or floating rate, also known as a variable rate. If you choose a fixed rate, you’ll know exactly what you’ve got. You’ll be offered one rate that will remain stable. If you are offered a floating rate, it will change depending on changes in supply and demand in the market. Be cautious with promotions when you get ready to switch. If a deal seems too good to be true, it probably is. A phenomenal rate won’t last forever, but you can always switch again before it runs out.

If you take time with studying the energy providers that are available, you may be surprised in how much money you can save. Don’t lock into a contract that is set for any length of time. That will give you the freedom to change again if you aren’t happy.